When the dust settles a bit from this weeks epic events the Democrats Massachusetts ass-kicking, the Supreme Courts toppling of a century-old, commonsense restriction on corporate political spending, and President Obamas push for stricter regulation of the banking industry guess which one will seem the most important in Charlotte? Hint: the city is sometimes called Bank Town. And guess who could wind up on a political hot seat? Itd be nice if the answer to that question was the Bank of America CEO, but you and I know thats not how this town works. Thats right, its gonna be Mayor Anthony Foxx who is already being asked, in the conservative Meck Deck website, whether he will follow the lead of New York City Mayor Bloomberg, who has condemned Obamas move.
Foxx isnt as beholden to bankers as say, oh, the citys past few exciting mayors, Republicans all, but he did run on a platform of job creation; if Obamas mean old regulations are as potentially ruinous to banks as they claim (and we all believe what banks tell us these days, right?), Foxx could be forced to show some nimble political dance moves in the near future.
As for your humble blogger, my only question for Obama is, What took you so damned long? One of my current heroes is Harvard law professor Elizabeth Warren, who is Chair of the TARP Congressional Oversight Panel. She was MSNBCs Rachel Maddow Show last night and gave a clear, pretty eloquent explanation and defense of Obamas moves to rein in the excessive powers of the banking industry. Watch Warrens interview here.
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